Central Bank data show domestic debt up by Sh30bn

According to the latest data from the Central Bank of Kenya, domestic debt has increased by nearly Sh30 billion since the beginning of the year, bringing cumulative borrowing to Sh1.334 trillion. Analysts expect yields on the domestic bond issues to experience downward pressure in the short term given that the government retains its plan to curb its appetite for domestic borrowing. [...]

Microfinance banks charge high interest despite taking deposits

Statistics from the Central Bank of Kenya (CBK) shows the interest rate charged by microfinance banks (MFBs) has remained high five years after the lenders were allowed to collect deposits from the public to help lower the cost of funds. The high interest rates allow microfinance banks to relish higher interest spreads than banks [...]

EABL stock up as first-half year results awaited

The share price of East Africa Breweries Ltd (EABL) gained 2.2 per cent Tuesday (or Sh7) to close at Sh320. Investors are now turning their attention to the brewer’s first half-year performance that the parent company Diageo said will reflect growth in turnover. EABL’s growth outlook is underpinned by increased volume sales across the region backed by the population growth which impacts positively on the alcoholic beverages industry [...]

BAT wins order against recall of new cigarette brand from shops

BAT has won the first round in a battle against one of its menthol cigarettes brand by the Ministry of Health issued on January 13.Justice Weldon Korir on Tuesday ordered that BAT to continue selling the Dunhill Switch cigarette brand until he determines a dispute between the tobacco products manufacturer and the Director of Medical Services over text published on the packets. The Director of Medical Services had accused BAT of running a promotion of its products through a message on the cigarette packets, in violation of the Tobacco Control Act [...]

 System repairs cut power losses 11.5pc

According to an IEA report, power failures averaging two days a month rank Kenya eighth on the list of African countries that suffer the longest duration of electricity outages and power losses. Data from Kenya National Bureau of Statistics indicates Power losses from the national grid dropped 11.5 per cent last year compared to 2013 which registered a drop of 11.5 per cent [...]

Pain for motorists as agency pushes to increase fuel levy by 30 per cent
Kenyan motorists are set to pay more for fuel as the Government seeks to increase the fuel levy charge eroding gains currently enjoyed from falling global oil prices. Kenya Roads Board has proposed an increase in the fuel levy currently pegged at Sh9 per litre by at least 30 per cent in a move meant to raise more funds for road maintenance in the country. [...] 

Tea farmers get Sh442m fertilizer subsidy

The Government has disbursed Sh442.31 million fertilizer subsidy to small-scale tea farmers under the management of Kenya Tea Development Agency. This latest incentive is expected to cushion farmers from the high costs of farm inputs. The tea farmers will receive a Sh321.35 rebate on each bag of fertilizer supplied under the KTDA fertilizer credit scheme. [...]

Jubilee Insurance Company in new pact, targets travel market

Jubilee Insurance Company has joined other insurance companies in the local market to tap into the highly potential international travel insurance. Yesterday the company in conjunction Travelstart, a renowned online travel agency and Hepstar insurance launched an affordable travel insurance targeting both local and international passengers. The new products require that over and above purchasing a travel ticket, the passenger will separately buy a travel insurance [...]